An investigation by Italian prosecutors has been launched into the holding company Lagfin, which owns Davide Campari-Milano. Allegations suggest that the major shareholder behind popular liqueurs like Campari and Aperol may have evaded taxes.
Lagfin, which holds more than 50 percent of Davide Campari-Milano, is suspected of hiding 5 billion euros in turnover from the tax authorities. The company is estimated to owe around 1 billion euros in taxes for the years 2018 to 2020 due to its alleged evasion of the “exit tax.” This tax applies to Italian companies that relocate their fiscal headquarters abroad. Lagfin is believed to have evaded this tax following the merger of its predecessor, Alicros, into a Luxembourg company in 2018.
To avoid paying the exit tax, it is suspected that Lagfin established an Italian branch. However, this move has raised concerns and led to a thorough investigation by Italian authorities. The investigation centers around the alleged evasion of taxes by Lagfin and its parent company, Davide Campari-Milano.
Davide Campari-Milano was founded in 1860 and officially became a Dutch public limited company in 2020. The holding company, Lagfin, is owned by Luca Garavoglia, who also serves as chairman of the liqueur company. These developments have put both the company and its major shareholder under scrutiny as the investigation unfolds.